This information is intended to outline those financial requirements of
Framework 7 (FP7) which have significantly changed since Framework 6 (FP6). It
is important to familiarise yourself with these facts in order to manage your
grant effectively.
1. What types of Cooperation project are there in
Framework 7?
2. EC Budget
3. Payments from the EC
4. Timesheets
5. VAT
6. Reporting
7. Audit
8. Coordination
1. What types of Cooperation project are there
in Framework 7?
In the Cooperation Programme of Framework 7 there are five main types of
project:
- Network of Excellence (NoE) – similar to NoEs in Framework 6
- Collaborative Project (CP) - replaces Integrated Projects (IPs) and Specific
Targeted Research (STREPs) in Framework 6
- Coordination Action (CA) – replaces Coordination Actions in Framework 6
- Support Action (SA) – replaces Specific Support Action in Framework 6
- Collaborative Project (CP) with CA or SA - these are a new in Framework 7 and
combine different types of project.
For further information on these project types please see the
The Research Operations Office FP7 overview pages.
2. EC Budget
Please refer to the
EC Budget & The UFS: Cooperation Programme page. This details the basis of
the calculation of your EC budget and how this appears in the University
Financial System (UFS) budget. Please note that the overhead rate and
reimbursement levels have changed from FP6. This is explained along with a
worked example of an EC budget, Budget Sheet and UFS budget.
3. Payments from the EC
The EC shall make an initial pre-financing payment. Interim payments of the
Community financial contribution shall be made corresponding to the amount
accepted for each financial management reporting period. The total amount of
pre-financing shall not exceed 90% of the maximum Community financial
contribution so the full budget will not be received until the end of the
project. For further information and an example please refer to the
Payments from the EC page.
4. Timesheets
The completion of timesheets is necessary on all FP7 projects.
Please refer to the
Timesheets & Framework 7 page. FP7 allows the charging of permanent staff to
EC projects for the first time. The audit of all FP7 grants will require the
verification of hours worked, even if 100% of time is to be spent on the
project (NB confirmation being sought from UKRO, further information will
follow). Monthly timesheets must therefore be completed for all staff
employed or charged to an FP7 grant. We recommend
that this spreadsheet (format: a zipped excel spreadsheet) should be used.
5. VAT
VAT continues to be an ineligible cost on FP7 grants and as such, cannot be
claimed from the EC. However VAT is no longer reclaimable from HM Revenue and
Customs. This means that VAT incurred on FP7 grants is an additional cost which
departments will need to fund from their share of departmental overheads earned.
Please follow this link for further details.
6. Reporting
Periodic and final reports must to be submitted to the coordinator of your FP7
project. Please check Article 4 of your grant agreement for the details of your
reporting periods. Reports must be submitted within strict deadlines at the end
of each reporting period (normally 1 month after period ends). These reports
include a publishable summary of the project, an explanation of the use of
resources and a financial statement (Form C as in FP6). Your Awards
Administrator in Post Award Services will complete the Form C for you and send
it to you for signature at the end of each period.
Please see the EC’s Reporting Guidelines for further information (available
here).
7. Audit
Your financial statement (Form C) may require an audit in order to obtain a
certificate on the financial statement. This replaces the audit certificate in
FP6. The requirements for audit have significantly changed in FP7. A certificate
on the financial statement is only ever required once expenditure exceeds
€375,000 so projects where the EC contribution is less than this will not be
audited, even at the project end. For grants of 2 years or less then only one
audit is required at the end of the project (even if €400,000 is spent in the
1st period no audit is required until the end of the project). If an audit is
required it will be arranged by the Post Award Services EC Team.
8. Coordination
If you are the coordinator of a FP7 project, please contact the EC Team to
discuss how we can assist you in managing the financial aspects/reporting of
your project. Please also refer to the guide for coordinators of FP7 grants.
If you have any further questions on the information in this document
please contact your Awards Administrator.
